According to The Kobeissi Letter, the ISM Manufacturing PMI index decreased by 1.3 points in March 2025, reaching 49.0 and indicating a return to contraction after two months of expansion. The employment index also dropped significantly by 2.9 points, hitting 44.7, the lowest since September 2024. This decline suggests potential impacts on the cryptocurrency market, as manufacturing slowdowns can influence investor confidence and trading volumes.